YP Celebrates First Year of Independence
May 15, 2013 | Contributed by: Wesley Young
It’s hard to believe, but a year has passed since YP officially announced its launch as an independent company. The former AT&T Interactive and AT&T Advertising Solutions units broke off to form YP Holdings LLC on May 9, 2012, forming a new identity as North America’s largest local search, media and advertising company with more than $3 billion in annual revenues. YP is majority-owned by Cerberus Capital Management.
YP’s progress over the past year has been remarkable. Here are some notable highlights we’ve captured here on the blog along the way:
- Last March, YP announced that it was the second largest company in the U.S. mobile advertising industry in 2012, with more than $350 million in revenue attributable to mobile, according to IDC. YP said its mobile apps referred nearly 100 million calls to local businesses in 2012, and that click-through rates on the company’s paid mobile listings grew by 100% over the year. YP also ranked among the top 40 mobile web domains in the U.S. by comScore.
- Last February, YP appointed former AOL executive David Lebow as senior vice president and general manager of its newly created National Markets Group, based in New York. The new group was created to provide a dedicated focus on developing and activating digital solutions for national advertisers looking to generate local leads.
- Last December, YP released its end-of-the-year Local Insights Digital Report, which showed 2.2 billion searches across YP’s online and mobile offerings in 2012. Local search volume via YP offerings continued to grow, with users making an average of 350,000 more local searches on a given day in 2012 than they did in 2011. YP searches via iPads were up 233% year-over-year, while searches on Android devices were up 205%.
- Last September, YP announced that Jonathan Miller, one of the world’s most respected digital media executives, would become the company’s first announced Board member.
- Last July, YP announced a new offering called Dynamic Store Locator. The feature, a part of its Local Mobile Display Network, allows local businesses to advertise to consumers within a specific radius of storefronts or given geo-fence. The program can potentially reach more than 100 million location-enabled smartphones in the U.S.
- Last June, YP launched its “Gas Guru” mobile app, which helps users to find the closest and cheapest gas in their area.
Recently, YP CEO David Krantz spoke to MediaPost about his company’s print to digital transformation, efforts to ramp up in new markets where it doesn’t have a strong presence, activities to leverage growth in mobile, and approach to working with small businesses. The full interview can be found here.
Congratulations to everyone at YP on a great first year. We look forward to seeing what you have in store for year two!